As Nigerians look forward to the 2026 new tax regime, the Chartered Institute of Directors (CIoD) Nigeria has urged that the Federal Government must be determined to ensure every tax collected is demonstrably tied to improved infrastructure, such as security, better roads, quality healthcare, and a quality education system.

Stating that the optimisation of Nigeria’s tax reform was a collective national project, the institute said it presented a clear opportunity to diversify the country’s revenue sources, achieve fiscal sovereignty and create a truly competitive business environment.

President/Chairman Governing Council, CIoD, Adetunji Oyebanji, said this during a tax symposium, organised by the institute’s Professional Service Group with the theme ‘Enhancing Capacity and Governance to Optimise Opportunities of Nigeria’s Tax Reforms’, where he expressed the institute’s commitment to building the fiscal foundations of a resilient and prosperous nation.

According to him, the reforms are deliberately progressive, seeking to tax the “fruits, not the seeds”, protecting the most vulnerable while ensuring that everyone who benefits from the Nigerian economy contributes their fair share.

The CIoD boss called for pragmatic, measurable, and implementable solutions that could quickly translate policy into tangible economic benefits for the Nigerian people.

He said the ongoing tax reforms, aimed at streamlining levies, simplifying compliance, and leveraging technology, must move beyond legislative intent and achieve verifiable implementation and positive economic impact.

Oyebanji stressed that the need for a simplified and effective tax system has become increasingly urgent amid concerns about low revenue, a cumbersome tax structure and economic bottlenecks.

Stating that for long, the nation’s tax system has been characterised by complexity, leakage, and an over-reliance on a narrow base, he expressed the institute’s commitment to shift the foundational pillars of the economy from dependence on volatile commodity prices to reliance on broad, predictable, and fair non-oil revenue.

To achieve this, the CIoD chief said the country must first address the issue of multi-layered challenges of technological infrastructure and data utilisation.

According to him, the promise of reform must be met with an ironclad commitment to transparency and accountability, adding, “Consolidation of multiple tax laws into a more cohesive and simplified framework, the establishment of clear jurisdictional boundaries between federal, state, and local governments, and the introduction of a robust tax ombudsman mechanism are essential components for our governance overhaul.”

In her keynote address, Dean, College of Art, Social and Management Sciences, Caleb University, Prof. Olateju Somorin, traced history back to 1957, when the country’s first tax reform took place, with a focus on fiscal issues and jurisdictions.

Comparing the Taiwo Oyedele-led Presidential Committee on Fiscal Policy and Tax Reforms with what it was before now, she said it has a dual mandate comprising tax and fiscal reforms, stating that Nigeria had always concentrated only on expenditure, with governments not balancing policies.

However, she said, the current reform would unify revenue collection, spur growth, attract investment, and make tax equitable and fair.

As Nigeria embarks on a new tax regime come January 1, 2026, the don called on all critical stakeholders to join in the transformation and build up a tax system that will work for everyone.